Commercial Real Estate Market in Menlo, IA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
1 active listing and 57 off-market properties in Menlo, IA.
Market Trends
Menlo, IA spans 49.4 square miles in Guthrie County, Iowa. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Menlo, IA runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Menlo, IA runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Menlo, IA runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Menlo, IA runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 51.4%
- Agricultural 22.6%
- Industrial 21.1%
- Commercial 3.9%
- Civic 1%
Largest Zones share of zoned land by district
Residential
Agriculture
Light Industry
Business
School
Menlo, IA zones 272 acres across 7 districts. Commercial zoning covers 3.9% of zoned land, residential 51.4% and industrial 21.1%. The largest single district is Residential at 50%. For commercial buyers the practical constraint is that only 25% of land carries a commercial or industrial designation.
Residential (R-2)
This district is intended to provide for a variety of residential areas where public utilities and services are available and to encourage a suitable living environments
Market overview
Demographics & Economy
Menlo, IA has 609 residents in 363 households. Density runs 12 people per square mile. Median household income here is $78,542.
609
Population
363
Households
1.7
Avg Household Size
43
Median Age
15%
College-Educated
90%
High-School Grad
49.4 sq mi
ZIP Area
12
Density / Sq Mi
$78,542
Median Household Income
$40,547
Median Earnings
$0
Median Rent
$151,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Stuart | — | — |
| Canby | — | — |
| Howe | — | — |
| Dexter | — | — |
Commercial property in Menlo, IA asks $869/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Menlo?
Commercial property in Menlo, IA asks an average of $869 per square foot.
What zoning applies to commercial property in Menlo?
Menlo, IA zones 272 acres across 7 districts, of which 3.9% is commercial and 21.1% industrial. The largest single district is Residential at 50% of zoned land. This district is intended to provide for a variety of residential areas where public utilities and services are available and to encourage a suitable living environments Residential zoning covers 51.4% and open space 0%.
Where does Realmo's Menlo market data come from?
Realmo compiles Menlo, IA figures from 1 active sale listings, 57 tracked off-market properties, the current Menlo zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 1 active for-sale and 0 active for-lease listings in Menlo, IA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 272 zoned acres across 7 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
